New Age Alpha Advisors LLC Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

New Age Alpha Advisors LLC bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,627 shares of the financial services provider’s stock, valued at approximately $488,000.

A number of other hedge funds have also made changes to their positions in PIPR. Norges Bank acquired a new stake in Piper Sandler Companies in the fourth quarter valued at $68,696,000. EFG Asset Management North America Corp. acquired a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $1,246,000. Vanguard Group Inc. raised its stake in shares of Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after purchasing an additional 31,400 shares in the last quarter. LPL Financial LLC lifted its position in shares of Piper Sandler Companies by 62.5% during the fourth quarter. LPL Financial LLC now owns 5,617 shares of the financial services provider’s stock worth $1,685,000 after purchasing an additional 2,161 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Piper Sandler Companies in the fourth quarter worth about $1,080,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 1.3 %

PIPR opened at $250.95 on Wednesday. The company’s 50-day moving average price is $260.50 and its 200 day moving average price is $287.98. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 24.55 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter in the previous year, the business posted $4.03 EPS. Research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday, March 14th.

Piper Sandler Companies Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.